Your small business accounts receivable and debt collection solutions...

Small business often faces big problems when it comes to accounts receivable and debt collections issues. Most of my articles are directed toward educating you on how to do things yourselves, and a little bit about how we can help you beyond that. 


Excuse me if this article is a bit self promoting, but what we offer to small businesses, professional service firms and freelancers is so unique and hard to find that if I don't toot our horn once in a while too many hard working businesses will lose money to difficult clients.



Here are some of the common problems you're facing, followed by the solutions (that's where we come in).  


If you're having one of these problems, match it up to its solution in the list below:


1.)  Accounting functions aren't your specialty.  Especially when it comes to asking for money.



2.)  You cannot afford experienced staff to do the tasks.  You don't have the square footage, payroll space, and don't want the cost and risk involved with bad hires.



3.)  Debt Collection agencies won't help you because you don't have hundreds of accounts to place, or your balances aren't sufficient.



4.)  You don't want to deal with the extra time and hassle of dealing with a debt collector company where you have to talk to a salesperson and don't know who is actually collecting your accounts and dealing with your customers.



5.)  You think that having a "collection agency" call your customers will hurt your relationships or reputation.



6.)  You're writing off costly losses at the end of each year and losing hard earned profit that you could be using to grow or simply sustain your business.



7.)   Your dealing with anger and stress over large balances that a client or clients owe you but you just don't know where to turn.



8.)  You think that getting a lawyer to litigate, or going to small claims court, will help your chances of recovery.






The solutions and how we can help you in an easy and cost effective way;



1.)  We know the best practices for accounting and back office procedures.  Having been in between hundreds of companies in dozens of industries, we've seen it all and know what works best for your specific type and size of business.   We are also well versed in accounts receivable and collections.  


We know how to speed up receivables and get you a cash infusion from your more delinquent and difficult customers.  We'll maximize every available dollar that's humanly possible to get into your bank account as soon as possible!



2.)  When Cambridge Receivable Solutions is your trusted accounts receivable and collection department, we represent you with expert level experience.  The person representing your business is professional, intelligent, and works with only your overall best interests in mind.  Our debt collection services are No Recovery = No Fee.  That means FREE if you don't get paid.  No more money out of your pocket.  


We'll get ourselves paid out of the recoveries at a rate that makes sense to your bottom line.  Our other services such as collection letter services and consulting offer easy to notice return on investment.  Either way the knowledge we pass along while working your accounts will pay dividends for as long as you do business.  



3.)  We accept single placement accounts because we care about small business. While we specialize in large balance claims we do accepts some minimum balances of $800.00 and there are some cases we won't accept, but we'll do everything possible to make sure you get the best information and solutions.  We want to help as many good businesses as possible get paid!  We take that seriously.



4.)  When you deal with us you are dealing with a small professional service provider. That's right we are a small business too.  We aren't a giant call center.  We are customized to help your business.  You'll deal directly with your personal cash flow consultant who will advise you on all aspects of your business AND be the one who deals with your customers!  This is the only way for small and professional businesses to go when it comes to debt collections.



5.)  The term debt collector or collection agencies comes with negative connotations thanks to the scores of low experience collection personnel employed by large corporations and predatory lenders.  Don't let that cost you money. I have created a professional option for small businesses to maximize their profits, keep their reputations and relationships in tact; all while making sure you're not going to go out of business due to losing hard earned money that you should have already.  


You can trust us to represent you strictly professionally and within the law.  We don't add to your headaches, we remove them!



6.)  The money that you "don't have time to deal with" or write off every year because you "don't think they'll ever pay" is the same type of truckloads of cash that we recover for your competitors.  This is such a misunderstood area of business.  It's no wonder that it puts so many new or small businesses OUT of business.  Let us put the money you deserve right where it should be, in your account.  All while you continue doing what YOU specialize in and getting more paying customers.



7.)  Too many small businesses have accounts receivable and debt collection issue skeletons in their closet.  Many times the business owner feels they did something wrong.  The past due client has a way of manipulating and stalling businesses into just never following up.  We know the way they operate.  We know how to get you what you rightfully earned, and show you how to strengthen your processes so you minimize coming across these difficult types as much as possible.  


The stress, anger and confusion can be bad for your health and your business. Offload this small percentage to us.  Dealing with them is our specialty.  That's how we add real value to your business.  It's not glamorous but someone has to do it.  We take pride in getting the good guys paid, the right way!



8.)  We are successful in recovering past due debts more often than winning a judgment in court is.  Not to mention it's costly, time consuming, very risky, and also is not even a viable option 98% of the time.  Let us orchestrate a pre-legal attempt.  If that doesn't work, and we think there is money to be had.  We'll let you know your next best option.  That shows good faith on your part!



So long story short, get to know our services.  No one has ever had less for having us as their secret cash flow weapon.


I'd love to have a no pressure, casual conversation about recovering your past due balances, strengthening your contracts, and making sure you have the fastest possible access to your earned income in the future.  




Author's contact information:

Jason Lindsey
President & Principal Consultant
Cambridge Receivable Solutions, LLC
Direct: 636-238-3843
or 
Toll Free: 1-888-908-3905  x 101
jlindsey@c-rsolutions.com
info@c-rsolutions.com

www.c-rsolutions.com 















 
 
Those accounts receivable and debt collection issues are not going to resolve themselves when ignored.  Instead they will continue to grow, compound, and decrease in value resulting in unnecessary losses of what should have been your hard earned profit.  


I've handled cash flow process improvement and accounts receivable collections for dozens of industries and enjoy sharing my experience with quality business and creative people. In my 17 years I have recovered tens of millions of dollars for my clients with NO ill effects whatsoever.  


I offer a free confidential online consultation form to allow me to reach those who can benefit from my expertise.  There is no sales funnel or obligation.  Once I receive your completed form I will assess the situation and offer my best advice whether it involves my services or not.  I offer this as a way to build new relationships, show transparency and build trust so that I can attract clients who will need and benefit from what I offer.

I add value to your company and work efficiently so that there is no risk whatsoever in having me involved with your business.  You do however run the risk of having quite a bit more time and money on your hands and experiencing less headaches.


I look forward to hearing how I can help your small business.  












Author's contact information:


Jason Lindsey
President & Principal Consultant
Cambridge Receivable Solutions, LLC
Direct: 636-238-3843
or 
Toll Free: 1-888-908-3905  x 101
jlindsey@c-rsolutions.com
info@c-rsolutions.com

www.c-rsolutions.com 
 
 

A perfect collection agency for small business? Yes please!

When it comes to accounts receivable problems and collection issues no one feels the pain like small businesses do.  While SBA.gov defines small businesses as those having less than $21.5 million dollars in annual receipts many of the small businesses that contact us for collection services are single person businesses that are simply striving to provide a single family's income. In fact approximately 70% of small businesses are owned and operated by a single person.  

These operations count on positive cash flow simply to survive.  They aren't backed by millions of dollars.  Only a third of them even use (or have access to) business credit.  Every dollar counts and you don't have the time, expertise, or resources to handle time consuming collections yourself. Don't get mad, frustrated, or let your business fall apart while you chase after non-payers.  You can win at this game.


"Only 50% of businesses survive the first 5 years and in 2009 a small business went bankrupt every 8 minutes."  
-Business insider



If your a small business and you want to stay in business or you are a freelancer and you don't want to prep your resume and return to a 9-5 you had better pay close attention to protecting yourself from losses.


Too often small businesses...

1.) don't do enough before the sale/engagement to qualify customers.


2.) don't have a contract stating the terms, or use a poorly worded agreement that lacks crucial clauses to protect themselves effectively.

3.) don't invoice properly and don't follow up quickly or often enough when invoices go cold.

4.) lack quality contact information and are unable to locate the debtor.

5.) write off losses simply because someone doesn't pay as they are supposed to.


6.)  waste time or company resources by chasing payments ineffectively.


7.)  feel as though somehow they themselves have done something wrong.


8.)  accept excuse after excuse until the owing party finally ceases communication.


9.)  waste time and money in small claims court only to realize they still won't get paid.


10.)  fail to get help from a professional early on in order to maximize debt recovery and focus their time on new/paying customers!



When your small business lacks the time and expertise to stay on top of your account receivable management and collections you need help.  Cambridge Receivable Solutions specializes in helping businesses like yours be able to minimize your losses in a cost effective way.  We share our extensive experience, tools, professionalism, and persistence with your business so you can maximize your profit risk free.


Here is a DETAILED MENU of the services we provide for all small business, professional services, and creative freelancer clients.  

Don't hesitate to e-mail or give me a good old fashioned phone call to discuss your past due invoices.  I have an open door policy and love talking to people about my area of expertise which is getting the good guys paid!!  I'll do what I can for you regardless of it you need us this time or not.

Have a look at our services page for more info.



Contact the Author:

Jason Lindsey
President & Principal Consultant
Cambridge Receivable Solutions, LLC
New Clients: 636-487-0986
or 
Toll Free: 1-888-908-3905 
jlindsey@c-rsolutions.com
info@c-rsolutions.com

www.c-rsolutions.com 


If you liked this article, help me share it with others who could benefit from it.  Share it on Twitter, click the like on facebook icon below, or....
 
Join my personal network by connecting with me on Linkedin

Follow CRS on twitter:  https://twitter.com/getpaidfaster

Follow CRS on Linkedin:   http://www.linkedin.com/company/cambridge-receivable-solutions-llc












 
 
Sometimes there's just not an app for that!


Making sure your business recovers every possible dollar it’s earned is one of those issues.  When thousands of dollars in accounts receivables go cold, whether from one or multiple clients, you are going to need a real live, good old fashioned human being.  Not only that but someone with deep real world experience in what it takes to turn nothing back into something.  Someone with tenacity, professionalism and all the tools it will take to make the impossible happen. 


The people or businesses who are trying to get out of paying hundreds, thousands, or tens of thousands of dollars for your hard work, are not swayed in the least by a friendly little reminder notice sent from your i-phone. 


You need a specialist.  A full service "do what it takes" ally who takes getting you paid seriously.

Cambridge Receivable Solutions, LLC is not what you typically think of when you think about a "collection agency".   We revolutionized this process for businesses like yours, the ones who need it most.  How is that you ask? 

1. We are not a call center.  Instead we are a small professional services firm of only highly experienced, educated professionals who operate strategically and intelligently on your businesses behalf.  

2.  We do not, never have, and never will work for credit card companies, telecom, payday loans or any other predatory lenders.

3.  We only help the good guys!  That's right, the good guys.  We only take on quality clients with good honest businesses who deserve to get paid for their products and services.  We operate with integrity and expect the same from our clients.

4.  We do not use automatic dialers. The business we handle needs a personal touch, the extra element of professional representation. 

5.  Our letters are on heavy stock paper with our letterhead, not multi-colored generic form letters. 

6.  Our calls and letters are tailored to each individual account specifically, which increases our recovery rates high above the industry standards.



How do you do it? They won't even respond to me, or they are just plain refusing to pay what they owe.


We use facts, evidence, the law, and persistence.  Not to mention we have the luxury of spending more quality time with your accounts than the sweat shop, archaic, collection agencies you might be thinking of. You get to rest easy knowing all possible avenues are being taken, and that if there is a chance for recovery, we'll be there to get it for you.  We take as much time as necessary to get you paid.  

We have so much experience with the psychology of recovering past due funds that we are able to do so most of the time with minimal resistance.  It really is an art form and one that we have mastered. We are professionals performing a crucial business function.  We assist small businesses who don't have the time or expertise to minimize losses effectively. 

We encourage communication, get the owing party talking wherever possible.  We present them the facts and give them a chance to do the right thing on their own which many times is all they are looking for-at least once they realize you have escalated the issue.  Also, the harsh truth is that many people and businesses stiff people all the time.  It's their way of building businesses on the backs of others.  


Some people lack integrity, so they take a "make me" type of approach to paying their bills. Some just don't have the money so until they feel it's urgent, for example getting a letter from a company like ours, they put it on the back burner.  We are proficient in getting you made a priority.  Something you just can't do with these types on your own.

We can't divulge all of our secrets but the best way to sum it up is, if there is any possible chance for you to get paid, we'll get it paid, with no hassle for you.

As a small business owner, freelancer, or professional service provider you need real, quality debt collection solutions.  That's why CRS was created to fill that void and allow you to take advantage of a smart money, cost effective way to offload some of that stress and headache and turn your stalled profit back into money in the bank.

Let us help....

How many services can you think of that only get paid IF you get the desired results? Do you have to pay a doctor if you don't get well soon? Yes.  Do you have to pay for that crappy HP printer even if it breaks after a year?  Sure do.   Do you get a refund on that produce you bought at a premium price after you get home and notice it's rotted?  Doubtful.  You see where I am going with this.  

We are one of the last real refuges of accountability.  If you don't get paid, neither do we! You pay nothing up front.  As long as you understand the following you'll know you are making a smart business decision by having us manage your past due balances...

Something > Nothing

Whether you have accounts just over 60 days past due, or over a year, we can talk about getting them resolved.  Not only that we'll be here to help you with questions on other problem accounts and to help you firm up your processes so that going forward you need us less and less.  So don't get stalled and let past due invoices sit there aging.  The older they are, the less likely you'll ever see your money.  

The sooner you take action the more we can help.  The stronger your in house processes are, the more effective we can be when the inevitable happens.  We can also help to make sure you are taking steps to minimize problems by helping you tweak your procedures, contracts, and follow up process as well.

We are successful more often than going to court and winning a judgment when it comes to recovering past due balances. Yes you read that correctly.  Not to mention you'll save a ton of time, headache, and out of pocket money.  If it has anything to do with a business owing another business money, we know the best ways to handle it and if we don't think we can help you we'll let you know that too and point you in the right direction.   

Remember our contingency collection services are No Collection = No Fee.  So you won't have to spend any more money just to find out IF they'll pay.  You literally have nothing to lose and everything to gain by using this smart money approach.  

Good luck and contact us when you are ready to maximize your cash flow.  We will take the time to answer any questions you have and make sure our business to business relationship will thrive. We won't make you the bad guy, but we won't let you be a sucker either!


Thanks for reading!


Contact the Author:

Jason Lindsey
President & Principal Consultant
Cambridge Receivable Solutions, LLC
New Clients: 636-487-0986
or 

Toll Free: 1-888-908-3905 
jlindsey@c-rsolutions.com

info@c-rsolutions.com

www.c-rsolutions.com 


If you liked this article, help me share it with others who could benefit from it.  Share it on Twitter, click the like on facebook icon below, or....
 
Join my personal network by connecting with me on Linkedin

Follow CRS on twitter:  https://twitter.com/getpaidfaster

Follow CRS on Linkedin:   http://www.linkedin.com/company/cambridge-receivable-solutions-llc


 
 
Now is a time when you really need to get your records in good shape.  Poor record keeping is one of the main things that puts small businesses, out of business.  You can't be out of touch with the numbers. You should have solid record keeping practices year around, a user friendly software to track your expenses/taxes, a proper invoicing system, pay close attention to the aging of any accounts receivable, and much more.  

As you know these among other things are keeping Freelancers, Small businesses and the self-employed very busy. With so many other things filling their plate dealing with finances often gets put off.   Whether you are struggling, or making money hand over fist, you cannot put off having a strong grasp on your cash flow.  Regularly published statistics, as well as the data I personally keep, shows that freelancers are taken advantage of regularly when it comes to compensation. You may have also seen the "get paid not played" campaign that saw independent workers logging over sixteen million dollars in unpaid debts.


Dealing with unpaid invoices (debts) to your small business..

Regardless of how well you adhere to even perfect financial practices, late and non-payers will become an issue for all of us at some point.  At least those of us in industries where full payment up front is not the norm.  Whether clients come to me as freelancers or the VP of Finance for a mid-sized services firm, whether they come to us with one account with a $2,000.00 balance, or twenty accounts averaging $20,000.00 a piece; they all have the same problem.....

..sometimes people don't pay what they should, when they should!

I am actively handling these situations for businesses just like yours and I'd like to help resolve any problematic invoices you currently have, and then strengthen your processes so you can avoid non-payment as often as possible in the future.   I love sharing my first hand experience with these hard working, creative, professionals and know what it takes to minimize losses.



Don't make these common mistakes..


-Not using a proper signed and dated contract (where applicable).
-Straying from the terms of service, or scope of work, on projects.
-Not invoicing properly.
-Putting in thousands of dollars worth of time without any payment up front.
-Getting stressed, emotional, or angry with a client and making idle threats.
-Allowing "seemingly good intention" clients to endlessly stall your payment.
-Forgetting or writing off hard earned profit.



For more on what you SHOULD BE DOING...
be sure to read my blog, have a look over the Cambridge Receivable Solutions website, and contact me any time to discuss your situation.  Our specialized collection service is done on a contingency basis, meaning we don't get paid unless you get paid, so no upfront cost.  In other words you'll never have less for using us as your representation in speeding up and obtaining payments professionally.  

Big business style back up, that's specially designed for "Freelancers".  I am continually designing & developing more ways to help, and will keep you informed of some new offerings coming up.  

This will be a continued "grass roots campaign", if you will, that will help the ever increasing number of independent professionals get in the know BEFORE they lose thousands of dollars.  Use my personal information below to get in touch with me directly.

Anyone who has dealt with me directly knows that I care about each client and go beyond the call of duty for the good guys!  CRS is successful in recovering bad debts more often than traditional litigation, or small claims court, even when a judgement is awarded.  


GREAT NEWS!

You don't have to deal with the run around in dealing with large collection agencies that don't care about your business, you don't have to do your clients any injustice, and you don't have to waste more time and stress in vain.  You're simply choosing to have a professional ally to help ensure you are paid for your work in accordance to laws and facts.  Get in touch sooner rather than later, as the more time that passes, the less likely a recovery.



Contact the Author:

Jason Lindsey
President & Principal Consultant
Cambridge Receivable Solutions, LLC
Direct: 636-238-3843
Toll Free: 1-888-908-3905 Ext.101
jlindsey@c-rsolutions.com

www.c-rsolutions.com 



If you liked this article, help me share it with others who could benefit from it.  Share it on Twitter, click the like on facebook icon below, or....
 
Join my personal network by connecting with me on Linkedin

Follow CRS on twitter:  https://twitter.com/getpaidfaster

Follow CRS on Linkedin:   http://www.linkedin.com/company/cambridge-receivable-solutions-llc










 
 
As the title of this post so obviously states, getting paid is how you stay in business!  It sounds like a simple concept right?  You would be very surprised at how complicated the issue really is.  I assist everyone from Freelancers to VP's of Finance, CFO's, and CEO's on A/R and Debt Collection best practices regularly, and have been in the business of getting the good guys paid for over sixteen years. 

So many experienced, as well as newly Self-Employed, Freelancers, Small Business Owners, and Professional Service Firms, struggle with unpaid invoices from clients; you're absolutely not alone. 

My goal is to continue to address the problems for these groups, as well as educate you on what you can do yourself, to help you minimize your losses.



In order to maximize your cash flow, you must first understand and accept the following;


1.)  You are responsible for seeking out, setting up, and adhering to the best possible in house practices with regards to ensuring payment for your business.  It's your first line of defense against inadvertently giving away time or resources that you provided with expectations of payment.  Whether every dollar is detrimental to your bottom line, or you're making money hand over fist, you should always be pushing to ensure that you don't leave hard earned profits uncollected.


2.)  It is imperative that you perform as agreed and only seek out work for which you are qualified to live up to your end of the bargain on, per whatever terms are understood.  If you can't reasonably do that with each client, and prove that you did, it's irrational to expect payment for such products or services.


3.)  Regardless of how perfect you set up these processes, qualify your clients, and deliver these products or services, slow (and no) payers will be a fact of life for most of you.  The statistics are out there, and I quote them often. I am also privy to first hand data, based on those we work for and against, on a daily basis.  As I said before, you are by no means alone in not getting paid perfectly.


4.)  This is an important one, and the one I believe is the biggest factor in causing losses for the groups I am primarily addressing.  You MUST know your wisest, and most cost effective, options for dealing with these non-payment situations.  If you've accepted, and stuck to, 1-3 (above) then most of this is already in place. 


5.)  The final ammunition to combat potential profit loss is to stick to your well thought out plan.  Take proactive steps to minimize the threat of such loss-in a timely fashion.  Once you understand WHY it makes sense to your bottom line, and you've stuck to and accomplished all of the above, it's easy to proceed with confidence and reap the rewards of maximizing your profits! 




In doing all of these things, and making them a priority at the appropriate times, you WILL minimize your stress levels, you'll stop wasting time that you could spend attracting and nurturing new business, and ensure that you are depositing every last possible cent that you are entitled to-with no adverse effects.

There is a general lack of specialized "in the know" information out there for you to tap into on this subject.  There is also quite a bit of misinformation out there that seems to have many of our new clients unaware of their best options, until we begin working with them.  Don't give up on payment! We recover balances from 31 days past due, to over a year old, for all kinds of clients who otherwise would have written off significant losses unnecessarily. 



Thank you very much for your time, and may your cash -FLOW- in the proper direction in 2013! 

-------------------------------------------------------------
Contact the Author:

Jason Lindsey
President & Principal Consultant
Cambridge Receivable Solutions, LLC
Direct: 636-238-3843
Toll Free: 1-888-908-3905 Ext.101
jlindsey@c-rsolutions.com

www.c-rsolutions.com 




If you liked this article, help me share it with others who could benefit from it.  Share it on Twitter, click the like on facebook icon below, or....
 

Join my personal network by connecting with me on Linkedin;

http://www.linkedin.com/pub/jason-lindsey/44/567/165/

Follow CRS on twitter:  https://twitter.com/getpaidfaster

Follow CRS on Linkedin:   http://www.linkedin.com/company/cambridge-receivable-solutions-llc


 
 

             This article relates to freelancers, small to medium size businesses, and professional service firms. 

Today I want to talk about the main myth with regards to debt collection agency contingency (no fee if no recovery) rates, along with what we are doing to ensure value to our clients.
 

    The myth:  "Collection agencies typically charge 30-50% fee on recoveries"
        

                                                 Who perpetuates this myth, and why?

-Collection Attorneys.  Collection attorneys help in spreading this myth in order to warm you up for their costly fee structure.  Legal action will take up more of your time and resources than the more logical third party collection intervention.  A solid pre-legal, collection attempt will, more often than not, increase your return.  If the effort is unsuccessful, you pay nothing, and legal action is always available as a last ditch effort.  In fact, having attempted an amicable pre-legal solution will strengthen your case if it must go there.  Tapping into decades of experience, we'll be the first to point you in that direction if that's what it will take. 

-The uninformed.  This is to include authors and bloggers who are simply regurgitating dated untruths they got from other unreliable sources, in the name of content, which has watered down the little known reality of debt collections.  The spreading of this misinformation is hurting your bottom line.  The crucial and necessary profit maximization, through specialized A/R management and collections, is a highly misunderstood and underutilized business function for businesses of all sizes and industries.

                                                        The Truth

To say this myth is an incorrect, dated, and an overly broad assumption, would be an understatement.  The fact is your cost will largely be a direct reflection of how you have handled the invoices to date.  If your waiting until your invoices are over a year old, then you may be in the neighborhood of 30%, for good reason.  Already have judgements? Then they will be in the 40% range.  Again, for good reason.  80% of judgements go unpaid and can require extensive expenses to attempt to recover.  The majority of placements that need a collection intervention won't fall in those high fee categories.  A proper collection strategy through a firm like ours will never leave you with less than you would have without us. 

The main factors at play with our rates are in your hands.  Most   agencies base their rates on the amount of time and resources they will   require to be cost effective for BOTH parties, obviously.  The amount  of  time it will take us to turn your coal into diamonds is what decides   your rates. Average age, average  balance, and volume of accounts are  the key factors that will decide  your fee structure.  Help us help you by getting us involved early and  often.

                                                                              Facts
-Having a specialist involved to ensure your cash flow management is structured appropriately throughout the entire cycle is a crucial first step. 

-Knowing when, and why, to allow professional help to proactively address problem invoices as they pop up, will always ensure you have more than you would without their assistance.


-DRUM ROLL~~~~~ Rates for top notch collection assistance are primarily BELOW 30%, in many cases as low as 10%.  If your agency can't show you why their rates make sense to your bottom line, call us, we can!  If we can't, then we'll make some suggestions and point you in the right direction.  If our relationship won't MAKE you money, we don't want to waste either of our time.  Taking on clients for whom we won't be an asset would be completely counter productive for us.


                       How do we specifically ensure value for our clients? 

-We are a highly experienced and specialized partner for the industries we serve.

-Our unique set up was built and customized to ensure you more time and money to invest in the business you're in. 

-A full service, consultative approach, ensures that you capitalize on our knowledge and experience at every stage of the process.

-Our more cost effective rate structure, and low overhead, ensures our clients top quality service and results. 

-While there are some bad collection agencies out there,  Cambridge Receivable Solutions is the answer to changing economic times.  We are providing innovation to the typical archaic recovery model.

   
                                                       Click   >HERE<   for more information
             
Get to know us better by having a quick look at our home, about, and services pages.  Please contact us with questions or for a free, confidential consultation on how we can help you.....at rates that you can be excited about.


Contact the Author:

Jason Lindsey
President & Principal Consultant
Cambridge Receivable Solutions, LLC
Direct: 636-238-3843
Toll Free: 1-888-908-3905 Ext.101
jlindsey@c-rsolutions.com

www.c-rsolutions.com 




If you liked this article, help me share it with others who could benefit from it.  Share it on Twitter, click the like on facebook icon below, or....

 
Join my personal network by connecting with me on Linkedin;
http://www.linkedin.com/pub/jason-lindsey/44/567/165/

Follow CRS on twitter:  https://twitter.com/getpaidfaster

Follow CRS on Linkedin:   http://www.linkedin.com/company/cambridge-receivable-solutions-llc




 
 
Collections
Time is money...why wait?
Maximizing your profits, and access to earned income, should be a top priority all year. Don't forget the obvious; getting paid is how you stay in business. Time is money, and we are here to get you more of both. 

Top reasons to address your past due accounts now, as opposed to year end:
(In no particular order)

1.) Waiting until the fourth quarter, or (cringe) December, sends a message that you don't expect timely payment. 

2.)  Your clients financial standing may deteriorate over time. 

3.)  You have less leverage over the clients the longer you wait, especially if services are completed.

4.)  Clients will forget how well you worked for them, or how important the product or service you provided was. 

5.)  You don't want to have to "make deals" to get the money in before year end.  By doing so they may expect lower rates next time.

6.)  Other creditors likely started earlier and are already in line for payment, get the jump on all available funds as soon as possible.  Don't get moved to the back of the line!

7.)  Statistics show that troublesome invoices become less collectable with every passing month.  See the Collectibility chart below, keep in mind it will vary by industry, economic conditions, etc. but it gives you an idea (visually) how time IS money.

8.)  You should be thanking your clients at year end, not pushing for payment and making compromises.

I could go on for days, but you get the point. Contact us today to capitolize on top-tier assistance and experience, at below average rates.  Our small firm, consultative approach, affords you terrific client service and results.  Let us know if you have any questions in regards to your active receivables, or more severely past due collection accounts.  We look forward to speaking to you about your needs, call anytime or use our quick consultation form for your convenience. 

Thanks for your time!

Contact the Author:

Jason Lindsey
President & Principal Consultant
Cambridge Receivable Solutions, LLC
Direct: 636-238-3843
Toll Free: 1-888-908-3905 Ext.101
jlindsey@c-rsolutions.com

www.c-rsolutions.com 



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In an industry full of misconceptions, we strive to give quality organizations the option to ensure maximum recovery for products and services.  As a highly specialized, professional recovery firm, we offer a myriad of benefits to top notch organizations in the industries in which we cater to.

In short, it's our high level of integrity, experience, as well as our thorough and analytical nature, that makes us stand out to professional organizations. We eliminate the typical risks and hassles of dealing with receivables and collections. Our financial mediation approach versus the "typical collection nature" is what make us an effective, top producing, financial secret weapon for our select client base.

Aside from the obvious need to maximize access to earned income, and boosting cash flow and profit; allow me to offer some specifics on...

 
                     

                            Why Cambridge Receivable Solutions?


1.)  Specialization, Customization, and Seamless Integration- Some "collection agencies" may accept any kind of business and have a less specialized approach to any certain industry.  We are as involved and knowledgeable about the industries we cater to as someone IN your industry.  We strive to understand all aspects of your industries trends, and be able to coordinate with your employees as if we are a member of your company.  Our consultative approach allows us to bridge otherwise undetected gaps in your cash flow management procedures and really customize a solid benefit for you.  We also only accept as much work as we can manage effectively, and staff for placements ahead of time!  Our extensive experience and analysis of each clients needs allows us to ensure you are treated as a number one priority.


2.)  Quality approach, a professional online presence, and a great reputation- Many of the large national agencies employ a large sales staff to bring in as much business (of any kind) as they can, and then assign inexperienced employees to these placements.  They set unattainable goals for them which ends up causing your accounts to be handled by burnt out, desperate collectors posing a risk to your reputation.  We stay away from lower tier collection portfolios, where online complaints are rampant.  Does a high profile organization want their sensative large balance accounts handled by someone who handles payday loans, or other small ticket, high risk paper?  We think not. If we aren't set up or equipped to be a home run for you, we'll point you in another direction.  We know what we can do effectively, we keep a firm grasp on it, and we nurture it.


3.)  A time saving, experienced partner- Aside from being a cash producing ally for organizations, we go beyond the call of duty.  Time is money.  We provide you with not only more money than you had before, but in doing so we are set up to save you time in the process as well.  It really compounds and equals a huge financial benefit for our clients.


Rather than have a low wage, high turnover employee handling your business while a client services rep tells you "they have their best people on it",  you actually have access to your own professional with a minimum of 15 years of top notch experience, with whom you work hand in hand; as much or as little as YOU would like.  Not only do we each have a vested interest in producing great results, and building long term relationships in our specialized industries, but we also offer a personal and transparent relationship as if we were a long term member of your staff. 


In closing, when the collection industry status quo isn't good enough for your companies needs, contact us for a confidential consultation, and cost benefit analysis of how we can add value to your bottom line.  These lean times require, at minimum, that you maximize your access to earned income on products and services you have delivered.

Thank you for your time, and please contact me directly (below), or use the CONTACT page with questions or to request more information.  We offer each prospective client a confidential consultation to determine how we can help prior to engagment.

Sincerely,


Jason Lindsey
President & Principal Consultant
Cambridge Receivable Solutions, LLC
Ph 636-238-3843
Toll Free 888-908-3905  Ext. 101

jlindsey@c-rsolutions.com

www.c-rsolutions.com
 
 
Much like anything there are the bad ones, and the good ones.  This rings true for Doctors, Lawyers, Construction workers, salesmen, pilots, mortgage brokers, actors, plumbers, and even priests (you get the idea).  I want to help educate you on how to spot the bad guys when choosing a collection agency.

I have been in the Accounts Receivable Management and Collections business for 15 years.  I have worked for some of the most prestigious lenders, and professional service firms in the country; the world for that matter.  Having done a ton of successful work for these clients, on behalf of other companies I was employed by, I set out to create a professional recovery firm that would REALLY address the needs of it's clients with the utmost integrity, results, and professionalism.  Someone  professionals would enjoy working along side of.

I saw plenty of room for improvement at some of these organizations I came across in my time, which was a primary reason I knew I could be successful in my own consulting firm, what is now Cambridge Receivable Solutions.  While we are not a traditional "collection agency" we do perform recovery functions for our exclusive client base, and many times are lumped in to the "debt collector" category in people's minds.  We are a small, specialized team of highly experienced negotiators with great personal and professional reputations.  The reason for this blog today, as the title states, is because I realize there are quite a few companies out there giving Collection agencies a bad name.

Today as I was googling some keywords and checking up on our Search Engine Optimization, I did some research on some of the other "companies" in the top search results.  Many of these firms are quite frankly fly by night operations.  This is something I have continually noticed as I looked into some of these agencies who have better search results than us!  They are guilty of everything from harassing tactics to not remitting funds to clients as agreed, to flat out running off with funds recovered!  This is very disturbing to me as someone who runs an ethical, efficient, law abiding, and transparent recovery company.

In my extensive research there are some reputable firms, like us, who you can tell really go out of there way to perform quality work.  Kudos to them.  However, on the flip side there are so many problem agencies out there.
 
I want to give you some tips when choosing a collection agency.

-Google their exact name. See what's on the first 5-10 pages+.

-Google their name with the word "complaints" after it.  Many of the top suggested search results for these companies include the word "complaints" after them for good reason.  Look into these claims, if they are serious, and not responded to by a representative of their organization, steer clear of that company.  That being said people who are contacted by collectors often have a bruised ego and will lash out because of that.  Try to get a feel for the validity of the claims, bring them up to whomever you talk to and see if they have a logical explanation.  Again, especially where they have high volume business, with clients prone to disputes, you will see complaints that don't necessary speak to the overall ethics of the company.

-Look on social media sites.  Social media is not the greatest deal for most collection companies.  However, most reputable companies these days will have a Manta, LinkedIn, Twitter, or similar site where you can read about the company and at least a person or two involved in the company. You should see an active and consistent pattern of visibility.  A good feel for their online presence says a ton.  The ones who stand out as cocky, greasy, sleazy scammers, will typically stick out like a sore thumb.

-Listen to the atmosphere in the background of your calls with them.  Does it sound like you are talking to an inmate at a federal prison?  Tons of noise, laughing, coughing, or worse?  Your talking to sales, imagine what the collection floor sounds like.  Move on.

-Make sure there are no valid or unaddressed complaints with the BBB.  Most major red flags will be uncovered with a simple google search though.  Obviously a bad rating or no response to complaints is a major no no.

-Get specific.  Ask specific questions, explain your expectations, explain what you expect from them and like anything "buyer beware" is crucial.


Having professional help to ensure timely payment is a must for most business.  I encourage you to seek professional help for your company in this category, because it is a very valuable and untapped asset.  It's something you can't duplicate in house, just like an attorney, or CPA.  You need a specialist to ensure the best results. Having past due payments is bad enough, you don't want to compound the problem with an absent or unethical agency.

Best of luck to all the organizations out there looking for help in maximizing their cash flow and profits.  If you are a sleazy company, you may need a sleazy collector, and more power to you if that's the case.  We will let the Attorney General sort you out.  If you are a professional organizaton who wants to maximize your profits, and recover what you have earned the right way, have a look at our website and give us a call for an in depth consultation.  We have the experience, knowledge, and resources to handle each case with a fact based approach.  We encourage communication, gather the facts, and ensure the best possible outcome; getting you paid with no further hassle.  Happy hunting!



Jason Lindsey
President and Principal Consultant
Cambridge Receivable Solutions, LLC
Email jlindsey@c-rsolutions.com

For new client inquiries:
Client Services 636-487-0986
or email
info@c-rsolutions.com 

www.c-rsolutions.com 


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